SULEKHA POLAVARAPU KUMAR,USA vs. ADIT (INT TAXN)-1, HYDERABAD

At the outset, during the course of appeal hearing, learned counsel for the assessee, Shri C.Ramesh, CA submitted that the assessee would like to withdrawal the appeal on the ground that the assessee has settled the tax dispute under Vivad Se Vishwas Scheme, 2024 and claimed that the competent authority has 2 ITA 545/Hyd/2024 & ITA-TP 96/Hyd/2022 Amardeep Lakhtakia and EnerSys India Batteries Pvt.Ltd.

issued Form 2 under the Scheme. The learned counsel for the assessee further submitted that the appeal filed by the assessee may be dismissed with a liberty to reinstate the appeal, in case, for any reason, the application filed by the assessee under Vivad Se Vishwas Scheme, 2024 is rejected by the competent authority.

The Ld.DR present for the revenue did not raise any objection for withdrawal of the appeal filed by the assessee.

We have heard both the parties and considered the relevant application filed by the assessee for withdrawal of the appeal. We find that the assessee has filed application under Vivad Se Vishwas Scheme, 2024 and the competent authority has issued Form 2 and determined the total tax payable under the Direct Tax Vivad Se Vishwas Scheme, 2024. Since the assessee has settled the dispute under the Vivad Se Vishwas Scheme, 2024 and also filed letter for withdrawal of the appeal, we dismiss the appeal filed by the assessee as withdrawn. We have also given liberty to the assessee to file an application for reinstatement of appeal, in case for any reason, the application filed by the assessee under Vivad Se Vishwas Scheme, 2024 is rejected.

In the result, appeal filed by the assessee is dismissed.